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ASRS

Arizona State Retirement System Portfolio holdings

AUM $17.1B
1-Year Est. Return 30.52%
This Fund
S&P 500
This Quarter Est. Return
+4.14%
1 Year Est. Return
+30.52%
3 Year Est. Return
+106.18%
5 Year Est. Return
+143.14%
10 Year Est. Return
+524.74%
AUM
$18.4B
AUM Growth
-$381M
Cap. Flow
-$771M
Cap. Flow %
-4.2%
Top 10 Hldgs %
34.89%
Holding
2,130
New
49
Increased
153
Reduced
1,846
Closed
82

Top Buys

Rank Stock Value
1
AMRZ
Amrize Ltd
AMRZ
+$6.97M
2
Q
Qnity Electronics Inc
Q
+$4.89M
3
CRWV
CoreWeave
CRWV
+$4.87M
4
RSP icon
Invesco S&P 500 Equal Weight ETF
RSP
+$4.61M
5
RKT icon
Rocket Companies
RKT
+$4.58M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$44.9M
2
NVDA icon
NVIDIA
NVDA
+$40.9M
3
MSFT icon
Microsoft
MSFT
+$34.3M
4
TSLA icon
Tesla
TSLA
+$22.7M
5
AMZN icon
Amazon
AMZN
+$18.8M

Sector Composition

Rank Sector Weight
1 Technology 33.37%
2 Financials 13.17%
3 Consumer Discretionary 10.67%
4 Communication Services 10.25%
5 Healthcare 10.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MAR icon
151
Marriott International
MAR
$101B
$20.2M 0.11%
65,176
-2,813
-4% -$804K
GLW icon
152
Corning
GLW
$108B
$20.1M 0.11%
229,348
-8,266
-3% -$712K
SNOW icon
153
Snowflake
SNOW
$93.7B
$20M 0.11%
91,054
-1,543
-2% -$377K
CMI icon
154
Cummins
CMI
$88.5B
$19.8M 0.11%
38,871
-1,373
-3% -$642K
MDLZ icon
155
Mondelez International
MDLZ
$80.2B
$19.7M 0.11%
365,312
-12,819
-3% -$738K
ITW icon
156
Illinois Tool Works
ITW
$84.9B
$19.2M 0.1%
78,106
-3,176
-4% -$791K
CTAS icon
157
Cintas
CTAS
$86B
$19.2M 0.1%
101,857
-4,271
-4% -$804K
HLT icon
158
Hilton Worldwide
HLT
$73.4B
$19M 0.1%
66,225
-3,216
-5% -$876K
CSX icon
159
CSX Corp
CSX
$94.2B
$19M 0.1%
524,316
-24,284
-4% -$869K
ECL icon
160
Ecolab
ECL
$79.6B
$19M 0.1%
72,358
-2,202
-3% -$586K
TEL icon
161
TE Connectivity
TEL
$62.1B
$18.9M 0.1%
83,083
-3,507
-4% -$811K
AJG icon
162
Arthur J. Gallagher & Co
AJG
$68.2B
$18.7M 0.1%
72,211
-2,641
-4% -$699K
WBD icon
163
Warner Bros
WBD
$64.2B
$18.6M 0.1%
645,236
-55,648
-8% -$1.3M
TRV icon
164
Travelers Companies
TRV
$82.9B
$18.4M 0.1%
63,509
-2,665
-4% -$750K
NSC icon
165
Norfolk Southern
NSC
$76.1B
$18.3M 0.1%
63,247
-2,584
-4% -$747K
FDX icon
166
FedEx
FDX
$74B
$18.2M 0.1%
62,994
-3,465
-5% -$910K
MSI icon
167
Motorola Solutions
MSI
$73.1B
$18.1M 0.1%
47,310
-1,447
-3% -$582K
TFC icon
168
Truist Financial
TFC
$64.7B
$17.9M 0.1%
362,796
-19,552
-5% -$900K
ADSK icon
169
Autodesk
ADSK
$50.1B
$17.8M 0.1%
60,226
-2,269
-4% -$686K
APO icon
170
Apollo Global Management
APO
$71.9B
$17.8M 0.1%
122,989
-4,335
-3% -$576K
COR icon
171
Cencora
COR
$62.2B
$17.5M 0.1%
51,841
-1,917
-4% -$653K
AEP icon
172
American Electric Power
AEP
$72.4B
$17.4M 0.09%
150,758
-5,246
-3% -$620K
PWR icon
173
Quanta Services
PWR
$88.3B
$17.3M 0.09%
40,926
-2,819
-6% -$1.24M
NET icon
174
Cloudflare
NET
$93.7B
$17.2M 0.09%
87,495
-4,144
-5% -$877K
CL icon
175
Colgate-Palmolive
CL
$74.2B
$17.1M 0.09%
216,523
-8,343
-4% -$654K
5 6
7
8 9

Similar funds

CM
Caption Management Oklahoma City, Oklahoma $17.1B AUM 70.99% 1-Year Est. Return
PP
Prudential plc London, England, United Kingdom $17.1B AUM 15.7% 1-Year Est. Return
VMPIC
Varma Mutual Pension Insurance Co Helsinki, Finland $17B AUM 24.09% 1-Year Est. Return
BCIM
British Columbia Investment Management Victoria, British Columbia, Canada $17B AUM 31.69% 1-Year Est. Return
BBA
Baker Bros. Advisors New York $17.4B AUM 131.5% 1-Year Est. Return
Macquarie Group
Macquarie Group Sydney, NSW 2000, Australia $16.8B AUM 27.39% 1-Year Est. Return
AIMCA
Alberta Investment Management Corp (AIMCo) Edmonton, Alberta, Canada $16.7B AUM 23.27% 1-Year Est. Return
FCM
Farallon Capital Management San Francisco, California $17.5B AUM 50.95% 1-Year Est. Return

Arizona State Retirement System's Q4 2025 Portfolio in Review

As of Q4 2025, Arizona State Retirement System held 2,130 positions worth $18.4B, down 2% from $18.8B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Arizona State Retirement System withdrew a net $771M in Q4 2025, closing 82 positions and reducing 1,846 holdings. Its most notable exit was Kellanova, an estimated $6.72M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Arizona State Retirement System opened a new position in Amrize Ltd worth $7.39M.

  • Arizona State Retirement System's largest Q4 2025 buy was Amrize Ltd: 136,647 shares worth $7.39M.
  • Arizona State Retirement System added most to Omnicom Group in Q4 2025, an estimated $2.3M increase.
  • Arizona State Retirement System's biggest Q4 2025 reduction was Apple, cutting an estimated $44.9M.
  • Arizona State Retirement System fully exited Kellanova in Q4 2025, selling an estimated $6.72M.
  • Arizona State Retirement System's ten largest holdings make up 35% of its $18.4B portfolio in Q4 2025.
  • Arizona State Retirement System opened 49 new positions and closed 82 in Q4 2025.
  • Arizona State Retirement System's portfolio value fell 2% quarter-over-quarter to $18.4B.

Based on Arizona State Retirement System's 13F filing for Q4 2025, filed 28 Jan 2026.